What other down sides of bad district landlord might face ?

I think probably over 90% of the houses I locate using this method are sold to an investor, even if its not me (once I am aware of these leads I check up on them in the local appraisal district, many times it will be another LLC when the property changes hands if it was not me that purchased it).

Today ill be researching my zip code farm area such as quality school districts, job growth, appreciation etc.

Purchase price $42k, estimated rehab + soft costs $18.5K, ARV (CMA) $130K, 6 month turnaround, great location, top notch school district.

This is a historic district with older residences, small shops, restaurants, medical centers and city government offices.  

But, I am always looking at listings in Wyoming, GR, Hudsonville, Jenison, and Northview school districts to get an idea of values.  

Managerial level on development/general contracting sometimes has its own frustrating days, I had the trouble of shifting from taking directions to driving the job and doing the books and compliance, though my case is different because we work with governments like school districts that a <100,000 project needs 300-500 pages just for closeout procedure.

I had to do that for a home in a historic district once.

I would buy in a bad school district if I'm buying on a good street.You listed a lot of systems that are in good shape - but what type of big expenses will you have in the next few years?  

I would simply sell the smaller current house and buy a larger one. 1.5M in Cupertino is good, but you can go less good and still have a bigger house in a top notch school district. 2k sq ft house in Irvington can be had for around 1.2.